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Islamabad: The International Monetary Fund (IMF) has approved a reduction of Rs 1 per unit in electricity tariffs, offering relief to consumers across Pakistan. IMF officials confirmed that the tariff reduction will apply to all electricity users. The relief will be financed through revenue collected from the levy imposed on captive power plants using gas. …
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Prime Minister Shehbaz Sharif has announced further reductions in electricity tariffs for domestic consumers and industries. He assured that reforms in the electricity sector would continue to bring relief to the public. Chairing a review meeting in Islamabad on Friday, PM Shehbaz expressed satisfaction with ongoing reforms in the power sector. He said the measures …
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The government has initiated efforts to convert circular debt (CD) in the power sector into public debt. This move is expected to lower electricity tariffs by Rs3.37 per unit, according to reports on Sunday. Additionally, the government plans to restructure $16.26 billion in energy-related debt. This includes loans for hydel, imported coal, Thar coal, wind, …
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The Federal Cabinet has approved revised agreements with 14 Independent Power Producers (IPPs). The meeting, chaired by Prime Minister Shehbaz Sharif in Islamabad, endorsed a proposal to cut the profit and costs of these IPPs by 802 billion rupees. A deduction of 35 billion rupees will be made from the additional profits earned by IPPs …
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Federal Minister for Energy, Awais Leghari, announced significant progress in reducing electricity rates, with ongoing discussions with the International Monetary Fund (IMF) potentially lowering tariffs by Rs10 to 12 per unit. Speaking at the Parliament House, he revealed that renegotiations with Independent Power Producers (IPPs) have already saved the country Rs1,100 billion, directly benefiting consumers. …
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The federal government has decided to terminate agreements with six independent power producers (IPPs). These IPPs generate costly electricity, adding financial strain to consumers and the government. The terminated contracts cover a combined capacity of 2,396 MW. The decision is part of a broader strategy to reduce electricity tariffs and save money. Officials estimate that …
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Islamabad: The Ministry of Energy has successfully renegotiated a power purchase agreement with Safe Power Company, sources confirmed. The company’s board approved changes to the agreement, introducing a revised tariff structure aligned with the Task Force’s proposed rates. Safe Power Company will now follow the “Take and Pay” tariff, ensuring more reliable payment terms. The …
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Islamabad: The government is set to finalize a major agreement with 18 Independent Power Producers (IPPs). This agreement will transition from “take or pay” model to a “take and pay” model for electricity purchases. This change is expected to significantly cut power costs and optimize the energy payment structure. Deal Expected to Save Rs 70-100 …
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The government has proposed a new financial model to 18 independent power producers (IPPs). This plan aims to significantly reduce their capacity payments and recover “excess profits” made by these companies in the past. Senior managers from three IPPs and a government official shared these developments with Dawn. A government task force is currently renegotiating …
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) raised concerns on Thursday regarding negotiations with Independent Power Producers (IPPs). These discussions could negatively impact investment in Pakistan. Nepra members expressed their worries during a public hearing on the provisional Fuel Charges Adjustment (FCA) for K-Electric for September 2024. K-Electric has requested a negative adjustment of …
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ISLAMABAD: The federal government is moving to reduce the electricity tariff by up to Rs10 after terminating power purchase agreements with five Independent Power Producers (IPPs). This decision is expected to save the national exchequer Rs411 billion, according to officials. Energy Minister Awais Leghari announced this development during a press conference following the federal cabinet’s …
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ISLAMABAD: Power Minister Awais Leghari announced on Friday that the nation would soon hear good news from negotiations with independent power producers (IPPs). He emphasized that they are working to lower electricity prices. However, immediate relief is unlikely. Power Minister Awais Leghari testified before the Senate Standing Committee on Power. He mentioned that he led a …
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved an additional charge of Rs1.743 per unit for electricity consumers, effective from September 2024. This decision allows both state-owned distribution companies (Discos) and K-Electric to recover Rs43.23 billion over the next three months. The recovery will address quarterly adjustments for the fourth quarter (April-June) of …
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Traders across Pakistan are on strike today, protesting against the government’s new tax reforms. The strike has led to widespread business closures in major cities. Traders’ associations and political parties support the strike, highlighting their frustration with the tax policies. Political parties backing the strike include Jamiat Ulema-e-Islam Fazl (JUI-F), Pakistan Tehreek-e-Insaf (PTI), Jamaat-e-Islami (JI), …
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The Korangi Association of Trade and Industry (KATI) has formally declared its support for the nationwide traders’ strike set to take place on August 28, 2024. The announcement was made in a joint statement by key figures within KATI, including President Johar Qandhari, Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim …
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The federal government has launched a series of initiatives aimed at reducing electricity tariffs, acknowledging the severe financial challenges facing the country’s power sector. This move comes as part of a broader effort to address the structural issues plaguing the sector, which has long been a source of concern for both policymakers and the public. …
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Jamaat-i-Islami (JI) has ended its two-week sit-in after making a deal with the government. The agreement focuses on forming a task force to address key issues, including reducing electricity bills, lowering taxes on the salaried class, and scrutinising agreements with independent power producers (IPPs). The announcement was made in the early hours of Friday after …
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Jamaat-e-Islami (JI) Ameer Hafiz Naeemur Rehman has issued a stark warning to the government, expressing frustration over the escalating electricity bills that have left citizens burdened and demanding immediate relief. Speaking at a protest sit-in outside the Sindh Governor House in Karachi on Monday, Rehman emphasized the urgent need for action. Addressing a crowd of …
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